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untomi forex-trading

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Is Untomi Forex Trading a scam or not?
Chavdar Langone
Oman
2023-10-10
ANSWER Untomi Forex Trading is a scam.Untomi Forex Trading says that it started its operations in 2015, but its domain ("untomi.co") was only registered in April 2023. This inconsistency is a warning sign.The platform asserts that it is based in Japan and supervised by the country's Financial Services Authority (FSA), but the Japan FSA's database does not have any matching records. It is a false claim.It also alleges that it is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). However, we have failed to find a firm named Untomi in the registers of the aforementioned regulators.In short, Untomi Forex Trading is not under the oversight of any authority. Investing with this broker is very risky, as there are no legal measures to protect traders who engage with the platform. In order to mitigate such risks, it is advisable to stay away from Untomi Forex Trading and instead opt for a fully regulated broker.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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